CNOOC's Nexen closing down crude oil trading division - sources

CALGARY/ NEW YORK March 23 (Reuters) - Nexen Energy, a
wholly owned subsidiary of China's CNOOC Ltd, is
closing its crude oil trading division following a round of job
cuts announced last week, four market sources said on Monday.

The Calgary-based company cut 400 jobs last week in North
America and the United Kingdom in reponse to plunging global oil
prices.

Three sources said the company was closing down its trading
operations worldwide, although the majority of activity takes
place in Calgary. Nexen will continue to market its own crude.

Nexen did not immediately respond to requests for comment.
(Reporting by Nia Williams; Editing by Chizu Nomiyama)